RBS to close 259 branches and shed jobs

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Headlines

RBS to close 259 branches and shed jobs
RBS says it will close 259 branches and cut 680 jobs as it reduces costs and encourages customers to use online and mobile services. The closures involve 62 Royal Bank of Scotland and 197 NatWest branches. RBS said it would try to ensure compulsory redundancies were “kept to an absolute minimum”. “We realise this is difficult news for our colleagues and we are doing everything we can to support those affected,” the bank said. An RBS spokesperson said: “More and more of our customers are choosing to do their everyday banking online or on mobile. “Since 2014 the number of customers using our branches across the UK has fallen by 40% and mobile transactions have increased by 73% over the same period. Over 5 million customers now use our mobile banking app and one in five only bank with us digitally.” The Unite union, which represents staff across RBS, said serious questions needed to be asked about whether the closures marked the end of branch network banking. Rob MacGregor, Unite national officer said: “This announcement will forever change the face of banking in this country resulting in over a thousand staff losing their jobs and hundreds of High Streets without any banking facilities.”

Source: BBC News



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